In a modern global environment, the growth and functioning of a national economy depends to a large extent on the relationships it establishes with the rest of the world. The content and intensity of these relationships are increasingly marked by investment flows that provide internationalization and integration into the dynamics of the world market. Financial intermediaries and financial markets are the backbone and mechanism with the help of whom the entire financial system operates, and the emergence of an efficient financial system is a long-term process. Institutional investors play an important role in the development of the financial markets of each country, among which are investment funds, insurance companies and pension funds. Institutional investors mainly invest their money in securities and appear as powerful investors in the capital market. In the institutional structure of the financial market there are constant changes, and the develompment of institutional investors has recently been highlighted, thanks to the policy of deversification of investments, concentration of knowledge and facilitated access to information. The aim of the research is to examine the investment of key institutional investors in the context of the development of the financial market as an important indicator of the development of the national economy.

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